Refer to the table above. If there is no statistical discrepancy, the capital and financial account balance equals

Which of the following is a property of typical indifference curves?

a. Indifference curves usually intersect. b. Indifference curves have positive slopes. c. Indifference curves are downward sloping and always linear. d. Indifference curves are usually bowed in toward the origin.

Suppose the federal government had budget surpluses of $80 billion in year 1 and $120 billion in year 2 but had budget deficits of $10 billion in year 3 and $40 billion in year 4. Also assume that it used its budget surpluses to pay down the public debt. At the end of these four years, the federal government's public debt would have

A. increased by $50 billion. B. decreased by $200 billion. C. increased by $150 billion. D. decreased by $150 billion.

Which of the following is NOT an example of a command-and-control regulation to limit pollution?

A. Fuel economy standards for all new cars B. A 50-cent tax on gasoline C. Mandating the use of catalytic converters on all new vehicles D. A ban on leaded gasoline

Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.

A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower